dips

@balajis @bslagter

LIQUIDATION CONTAGION Wealth taxes are even worse than you think. Any asset held by Californian billionaires or Dutch citizens is now at risk of experiencing forced liquidation pressure. So: it’s not just that you don’t want to hold assets as a Dutchman. You also don’t want a Dutchman to hold your assets. Because the logic of forced liquidation is contagion. Let’s think it through. (1) First, suppose there is an asset with a total market cap of $10,000, with 10 shares total, of which 1 share each is held by 10 different holders, all in the Netherlands. To simplify the math, assume the Dutch holders bought those shares at par, or close to $0. (2) Now suppose today is the unrealized cap gains tax day, and the share price is $1,000 per share. Each Dutch guy is hit with a 36% tax, and owes $360. The first guy sells his one share, gets $1,000, and pays $360 in tax while retaining $640. (3) But the first guy’s sale reduces the market price to $960 per share. So when the second guy sells, he only retains $600 after paying $360 in tax. (4) Now assume that by the 7th guy, all the selling has pushed the share price to collapse to $200 per share. This is a very reasonable scenario if 60% of the cap table has suddenly been dumped. Indeed it might go much lower. (5) At $200 per share, the 7th guy actually has to go into debt to pay the tax as he owes $360. He sells his one share, pays all $200 of the proceeds in tax. And still owes $160 more in tax. (6) The 8th, 9th, and 10th guys are even more screwed. By the time they sell, the price will likely have crashed to $100 per share or less. As with the 7th guy, even 100% liquidation will not cover their tax burden. (7) So we immediately see many negative things about the Dutch unrealized cap gains tax bill. (a) First, it will cause large simultaneous forced liquidations. Everyone must sell 36% of their stake near the same time. (b) Second, it may be literally impossible to pay if a critical mass of the cap table is all subject to it at the same time. In the example above it was 100% Dutch holders, but has it been just 60% the result would have been much the same: a collapse in the share price. (c) Third, that means it would be disastrous to have too many Dutch citizens (or Californian billionaires!) on the cap table. Their forced sales will crash your share price. (d) So, you might have to start mass blocking those resident in wealth-taxing jurisdictions from investing in your companies. (e) This in turn makes the poor Western European guy even poorer, as he gets locked out of high growth assets. To be clear: I really do feel bad for the formerly Flying Dutchmen, now Crying Dutchmen. They invented much of modern capitalism. They founded New Amsterdam, now New York. They’ve punched way above their weight. I wish them only the best. Nevertheless…they should prepare for the worst. This may be a tough century for Western Europe. The first ones out might get to freedom, while the slowest may be stuck behind a new Iron Curtain, spending a century paying off the debts their states incurred over the last century. Because the long run fruits of Western Keynesianism are the same as Soviet Communism, in the sense of wealth seizure and pauperization. I mean, if you knew the future, you wouldn’t want to co-own a farm with a Russian in 1916. For similar reasons, you might not want to co-own a share of stock with Dutch national in 2026. Or with anyone in a seizure-curious jurisdiction…which unfortunately includes much of Western Europe, Canada, and Blue America. You instead want assets that are not held by those subject to forced liquidations. Now, I grant that this is an unusual way to rank assets…Dutch holders considered harmful?!? Yet it might sadly be necessary to minimize your exposure to liquidation contagion. PS: guess which crucial stock is most held by the Dutch? ASML. So: this unrealized cap gains tax may not literally be a communist plot, but it would have the same effect.

@PseudoCapricorn @levelsio Shit. You're right

@dippoor @levelsio No. Bosch and Siemens.

What's the best oven I should buy for kitchen WITHOUT any smart stuff that's reliable? High price is fine. Bosch? Miele? Thank you!!!!

@levelsio I have AEG. But get a steam oven. You can cook sous vide. Which is amazing

@levelsio Bosch and miele are from the same factory their the best though

This is going to stick with me forever

@earthcurated Starting in the first place

If humanity ever gets a fresh start on another planet, what’s one mistake we should never repeat?

@Rothmus Should have longed marker production stocks

██████ of ██████ █████ ████ ███████████ course ██████████ ██████ █████████ they’ll ████████ █████ ███████████ ██████████ release ██████ ████████ ████████████ █████ ██████████ ████████ them.

@cz_binance And lower price too

Accessing crypto in Japan became easier, and with lower fees. Build.

@satoshigallery Amsterdam? During the conference

@imperooterxbt Bolivia has a shit ton of millionaires

@RNR_0 Oh boy

So, FTX Sam probably wasn't the only one selling user funds Other exchanges have been and are still doing it

@cryptocevo And high fees on the ethereum network

Not many people out here have been holding the same alts for years. Takes high conviction and real balls of steel

@RNR_0 Get a kid. Youll be binging peppa pig at 4.30

Failed attempt to get out at 04:30 AM Idk what happened it's now 06:30 I really need the 04:30 cause the process isn't linear. Like oh 1 hour earlier, he is done 1 hour earlier. Like it's not linear but exponential

@tradermatt Gm

gm if you're reading this say gm back you'll have a great end to the week 🙏

@RNR_0 @hieronimoos @AgentChud @notthreadguy Yes. Ask every 30 to 40 year old man.

@hieronimoos @dippoor @AgentChud @notthreadguy WAIT WHAT So my grandma was just buying stuff. Did you guys use it to uhm.... Look at the models? And uhm jack off on that while using uhm... Imagination?! 😭

@RNR_0 @hieronimoos @AgentChud @notthreadguy I had the Wehkamp gids

@hieronimoos @AgentChud @notthreadguy YOU WATCHED PORN IN THE 90s?! I'm born 96 What was that like at the time? Video tapes?

@robj3d3 Did the same but they don't convert

I shipped 3 free tools and my traffic jumped 1000% overnight Ship free tools

Yes don't have the models do that for you. Simply ask the gippity what happens in the database backend if you make a change. Example, I ran out of ints, so I needed to change the column to bigint. That basically copies your entire table. Small change but big implications if db is big.

@itsanotherjon i know but many vibe coders dont understand half these words that's why it can be hard the models try to do this for you == recipe for disaster

Working with and changing database schemas is a nightmare with vibe coding Especially once you have lots of production data. Probably the hardest thing to do in vibe coding right now. How's everyone handling this stuff?

@tibo_maker Umbrellum.com 600 mrr

if you have a product < $1k MRR share your landing + MRR 👇 i'll pick some, and share tips goal: double your MRR

@blknoiz06 For the weekly cycle, yes. But one more to go in this yearly cycle

gut says we're topped